Galapagos (NASDAQ:GLPG) Earns Underweight Rating from Barclays

Barclays reiterated their underweight rating on shares of Galapagos (NASDAQ:GLPG) in a report issued on Thursday,Benzinga reports.

A number of other research firms have also recently weighed in on GLPG. TD Cowen cut shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, January 9th. Kepler Capital Markets downgraded shares of Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada lowered their price objective on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.75.

Galapagos Price Performance

GLPG stock opened at $23.70 on Thursday. The company’s 50-day moving average price is $26.55 and its two-hundred day moving average price is $27.42. Galapagos has a 12 month low of $23.45 and a 12 month high of $40.34.

Institutional Investors Weigh In On Galapagos

A number of institutional investors have recently added to or reduced their stakes in GLPG. Rhumbline Advisers increased its position in Galapagos by 21.6% in the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock worth $113,000 after buying an additional 814 shares during the last quarter. Renaissance Technologies LLC lifted its position in Galapagos by 1.6% in the second quarter. Renaissance Technologies LLC now owns 270,800 shares of the biotechnology company’s stock valued at $6,710,000 after purchasing an additional 4,300 shares during the last quarter. XTX Topco Ltd purchased a new stake in Galapagos in the second quarter worth $284,000. Marshall Wace LLP bought a new position in shares of Galapagos in the 2nd quarter worth approximately $315,000. Finally, DME Capital Management LP boosted its stake in Galapagos by 46.9% during the second quarter. DME Capital Management LP now owns 234,828 shares of the biotechnology company’s stock worth $5,819,000 after acquiring an additional 75,000 shares in the last quarter. 32.46% of the stock is owned by institutional investors.

Galapagos Company Profile

Galapagos NV, a biotechnology company, develops medicines focusing on oncology and immunology primarily in the United States and Europe. The company's pipeline products comprise GLPG3667 that has completed phase 1b trial; GLPG5101, a CD19 CAR-T product candidate manufactured at point-of-care, currently in Phase1/2 trial in relapsed/refractory non-hodgkin lymphoma; GLPG5201, a CD19 CAR-T product candidates manufactured at point-of-care, currently in phase 1/2 trial in replapsed/refractory chronic lymphocytic leukemia; and GLPG5301, a BCMA CAR-T product candidate manufactured at point-of-care, currently in phase 1/2 in relapsed/refractory multiple myeloma.